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Will they do something like dump another group (Medicare, Federal Employees, etc.) of people into Obamacare, repeal it, raise taxes, take money from another government program, something else? This is speculation, so no right or wrong answer.
What do you think your state governments will do, due to the increased Medicaid sign ups?
No, they will keep writing checks and borrowing money so the checks don't bounce and we'll end up raising the debt ceiling.
Medicare and SS have their own funding problems and won't provide any surplus for them to spend.
They won't dare touch any of the means tested programs (that's over $1 trillion a year).
And once Obamacare gets underway they can't repeal and kick people out of medicaid or stop paying subsidies.
Obamcare becomes a one way street on 1/1/2014 and there is no turning back.
They will let the debt grow for a year or so.
It would not surprise me in the least though if they talked about taking over personal retirement accounts (IRA/Roth/401K) to manage for us and provide us annual annuity payments. This gives them about $18 trillion of hard, cold cash (2011).
What government official wouldn't love to get their hands on that kind of money ?
Location: Just transplanted to FL from the N GA mountains
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Quote:
Originally Posted by HappyTexan
It would not surprise me in the least though if they talked about taking over personal retirement accounts (IRA/Roth/401K) to manage for us and provide us annual annuity payments. This gives them about $18 trillion of hard, cold cash (2011).
What government official wouldn't love to get their hands on that kind of money ?
That's a scary thought. Can I take it out, pay the penalties and tax now and just bury it in the backyard.. because no way I'm letting the government take care of my retirement...
That's a scary thought. Can I take it out, pay the penalties and tax now and just bury it in the backyard.. because no way I'm letting the government take care of my retirement...
It won't help. They steal the value of your money by printing it freely. Eventually, it becomes worthless.
That's a scary thought. Can I take it out, pay the penalties and tax now and just bury it in the backyard.. because no way I'm letting the government take care of my retirement...
Who knows what the future will bring ?
All I know is that since 2008 "managing personal retirement accounts" has been brought up three times now..once to Congress, once to the DOL and once to the new Consumer Protection Agency.
All three meetings contained the same talking points:
-Americans don't want to manage their own retirement accounts
-Money would be invested in Treasuries and people would get a steady retirement income (annuity)
-It would be optional of course.
I have followed this closely and read the minutes of the three day DOL hearings on this.
God knows what is happening behind closed doors though.
Call me paranoid but I don't see where else they can get money.
You can't raise taxes on a declining society as that just puts more people on their programs.
The corporates have already left the shores because there's no big profit here anymore.
The real wealthy are locked up in hard assets and only take income as they need it.
The government continues to spend as their revenue stream is slowing drying up.
Will they do something like dump another group (Medicare, Federal Employees, etc.) of people into Obamacare, repeal it, raise taxes, take money from another government program, something else? This is speculation, so no right or wrong answer.
What do you think your state governments will do, due to the increased Medicaid sign ups?
What are you talking about? "Obamacare" is a private medical insurance framework. It's still a plethora of private medical insurance companies doing the "paying." Medicare and Medicaid were actually cut back.
It won't help. They steal the value of your money by printing it freely. Eventually, it becomes worthless.
Perfect example is Zimbabwe where they thought printing more money was their solution.
Then they took over via high regulation to try to fix it.
UE there is near 90%.
It's an extreme example of government intervention but it also took over a decade before it got to the state it is in today.
And this country is rich in natural resources too.
Argentina took over pensions.
Venezuela is currently going down this path now.
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